Today's bulls-and-bears standoff: Four layers of pressure compound, and Bitcoin shows rare resilience

🔴 Fourfold bearish pressures weighing on the market

① Fed rate-hike expectations surge (the biggest drag)
The CME FedWatch tool shows the probability of a Fed rate hike in September has jumped to 82%. Tensions in the Middle East have pushed oil prices through the $100 per barrel mark, while the 10-year U.S. Treasury yield hit an 18-month high, systematically pressuring risk assets.

② ETF flows reverse direction, ending seven straight days of inflows
Yesterday, Bitcoin spot ETFs saw net outflows of $225 million, ending a streak of seven consecutive days of net inflows. Of that, BlackRock’s IBIT recorded a daily outflow as high as $202 million.

③ Tech stocks: AI panic spreads
The “Magnificent Seven” saw a combined market value drop by $797 billion on Thursday. Alphabet raised its capital expenditure cap to $205 billion, deepening market concerns about AI investment returns and dragging overall risk-asset sentiment.

④ CLARITY Act benefits fade
The bill’s progress hit resistance and got stuck in a deadlock between the two parties, with the probability falling to just 35%. Senate Republican leaders expect the bill is unlikely to pass before the August recess, and policy expectations have cooled rapidly. #btc #eth #SNDK: